hari sud
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What did China get for this consumer capitalism at the behest of US. It was US, who in 1982 persuaded China in manufacturing cheap consumer goods for US and rest of white man's world. China in its enthusiasm to progress fell for it.
To manufacture all these consumer worth more than a trillion dollars, China is emptying it's coal mines, it's steel mines and all other natural resources.
Yes, it got cash in return. Half of this US and the Europe keeps, other half builds its infrastructure. Factories are build by $100 billion a year FDI which US and Europe sends it.
Net effect:
Welcome to new China. I sincerely hope they continue on this path. It is already an old men's country. Old men get sick sooner under the above circumstances. Now China would be called not only country of old men but sick, old and hungry people.
To manufacture all these consumer worth more than a trillion dollars, China is emptying it's coal mines, it's steel mines and all other natural resources.
Yes, it got cash in return. Half of this US and the Europe keeps, other half builds its infrastructure. Factories are build by $100 billion a year FDI which US and Europe sends it.
Net effect:
- China has cash to build a military machine to intimidate the neighbours.
- High prestige.
- There is a huge downside which exceeds the benefits
- Countryside is polluted by burning huge amount of coal in inefficient coal burning power plants with no end in sight.
- Rivers and lakes are so badly polluted that these are dying as more and more acid falls on forest wealth. It is well known that a river in the north which flowed to the sea until about 1995 does not reach the sea any more.
- Drinking water supply is polluted so deadly that nothing can be done to restore it except anti pollution measures for next 50 years.
- That smog blanket which previously was ignored by the western observers has begun to make news. Smog jokes of Shanghai are well known.
- 8 million acres are polluted over last twenty years. Another 20 million acres will br go off the cultivation in next twenty years. Then food supply will be compromised.
Welcome to new China. I sincerely hope they continue on this path. It is already an old men's country. Old men get sick sooner under the above circumstances. Now China would be called not only country of old men but sick, old and hungry people.